New commodities stocks index set up

June 29th (Financial Times) The Rogers Van Eck Hard Assets Producers Index comes out at a time when “governments around the world are tackling inflation and commodities are seen as the best hedge against it”, said Mr Rogers.

"With this index we provide a reliable and comprehensive benchmark for measuring the performance of the global hard assets industry, which is central to the world economy, accounting for approximately 14 per cent of world economic output.”

"The bull market in commodities still has a long way to go, especially when you look at growth rates in China, India the Mena countries and throughout most of the developing world where demand for just about every commodity is rising at unprecedented rates.”

Demand was outstripping supply and there was not enough supply of oil, wheat, copper and zinc, he added.

My comment: Watch the 14% figure. The commodities bull market could end when this percentage reaches 25%. This is what happened in 1970's.

at 7/01/2008 Labels: ,

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